Bucking global trend, S Koreans pile into gold
Add BT as a preferred source
Seoul
SOUTH Koreans are on course to buy a record amount of gold in 2015, worried that a meltdown in China's stock markets will destabilise South Korean equities and wanting to replenish a traditional store of value in an era of low interest rates.
In contrast to the weak demand in top gold buyers China and India, South Koreans are on target to buy one trillion won (S$1.19 billion) in bullion for the first time this year, based on first-half sales through Korea Gold Exchange 3M Co Ltd, the country's largest gold merchant.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
